Nigerian energy firm resumes operation after shutting down

• Nigerian energy company Aiteo has restarted production again Nembe field in southern Bayelsa state
• This came after preventing an oil leak at its almost 50,000 barrels per day (bpd) Nembe field earlier
• On Monday, while conducting standard operations in the Nembe area, the leak was detected

Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.

Following the containment of an oil leak at its about 50,000 barrels per day (bpd) Nembe field in southern Bayelsa state earlier this week, Nigerian energy company Aiteo has reportedly resumed production.

The leak was discovered on Monday during routine operations in the Nembe area. Photo Credit: Smederevac
Source: Getty Images

BusinessDay reported that the leak was discovered on Monday during routine operations in the Nembe area, a badly contaminated area caused by decades of spills that have harmed farming and fishing, according to Aiteo, which manages a joint venture with state oil major NNPC Ltd.

Aiteo said in a statement seen by Reuters on Saturday,

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“Our dedicated team has worked diligently to address the issues caused by the recent incident and implemented enhanced safety protocols to prevent future occurrences.”“We are delighted to confirm the resumption of production activities.”

The Nembe Creek facility is the largest of 11 fields under an oil mining lease operated by Aiteo, which also produces significant natural gas that supplies the Nigerian liquefied natural gas (LNG) plant at Bonny Island.

Legit.ng had reported that Nigeria’s oil production declined after a major oil field shut down due to leaks. The Nembe Creek oil fieldwas shut down on Monday, June 17, 2024.

Aiteo Eastern Exploration and Production Company, the pipeline operator, disclosed the leak and the shutdown.

According to reports, Aiteo noted that its Oil Spill and Emergency Response Team was activated and dispatched, and all the production from OML 29 was shut down as a precautionary measure to forestall the impact of the incident.

Diesel Sells for New Amount Across Nigeria

Legit.ng reported that the National Bureau of Statistics (NBS) data showed that in May 2024, consumers spent an average of N1403.96 per litre on automotive gas oil (diesel).

This is a 66.29% rise in price over the same month the previous year, from a lower cost of N844.28 per litre in May 2023.

From N1415.06 in the previous month of April 2024 to an average of N1403.96 in May 2024, this indicated a monthly decline of 0.78%.

Source: Legit.ng